Ofgem is to kick off the recruitment process for a new chair after David Gray announced his intent to retire next year.
Gray was appointed as chairman of the UK Gas & Electricity Markets Authority in October 2013 and today he confirmed that he would not extend his spell in the hot seat beyond his current five-year term.
Gray previously spent four years as an executive director within Ofgem’s networks division, and he will continue until his five-year term ends in September 2018.
The Department for Business, Energy and Industrial Strategy is tasked with appointing the chair, and Ofgem said the department would start the recruitment process shortly to ensure a “smooth transition”.
Speaking of his time as chair, Gray said it had coincided with a period “rapid change” in the generation, transportation and consumption of energy.
“It has been a privilege to chair Ofgem during such a challenging and exciting time. Amidst these changes, Ofgem will continue to protect all consumers as we work towards delivering a smarter, fairer and more competitive energy system for everyone. I will keep working towards this goal for the remainder of my term,” he said.